Sri Lanka's Gem, Diamond & Jewellery Sector Growth 50pct by January 2012

23rd February 2012, www.dailynews.lk, By Sanjeevi Jayasuriya

The gem, diamond and jewellery sector has secured an overall growth of 50% as at end January 2012 earning a revenue of Rs 5,725 million in comparison with the corresponding figure of Rs 3,808 million in 2011.

The export of gemstones brought in a revenue of Rs 1,635 million recording a 39% growth while jewellery exports generated revenue of Rs 301 million showing an impressive 121% growth. The service cutting industry showed signs of recovery by recording a Rs 26 million income with a 50% growth.

"The feed back we are getting from traders who returned from the recently concluded 'GLDA' Tucson show is very encouraging. Regular American buyers are showing a keen interest in fine quality blue sapphires of large sizes and the prices fetched by unheated sapphires were unprecedented," National Gem and Jewellery Authority Chairman Prasad Galhena told Daily News Business.

In its export market promotion programme this year the National Gem and Jewellery Authority (NGJA) intends to organize "Sri Lankan Pavilions" in a number of international gem and jewellery events.

There will be several mega events such as the Jewellery Shanghai Show, Hyderabad Jewellery, Perl and Gem Fair, Hong Kong International Jewellery Show, Malaysia International Jewelex, China International Jewellery Show (Beijing) and China International Gold, Jewllery and Gem Fair (Shanghai) during this year.

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Sri Lanka Sees Over 20pct Growth in Gem, Diamond & Jewelry Sector during First Half of 2010

14th December 2010, lankapuvath.lk

The Gem, Diamond and Jewellery Sector has recorded an overall growth of 20.6% during the first half of 2010 earning a revenue of US.$ 197.06 Million, compared to U.S.$ 163.4 Million earned during the same period last year.

With the Gems and Jewellery market getting saturated with imitation and artificial gem stones and the demand for authenticated natural gem stones getting increased the Gem and Jewellery Authority has made arrangements with the Sri Lanka Gem and Jewellery Association to establish a separate entity, Lanka Gemological Laboratory (Pvt) Ltd., with the capacity to issue internationally recognized testing reports.

The National Gem and Jewellery Authority (NGJA) has also taken steps to train and develop a resource base of Gemologists, providing opportunities to those who excel at the Certificate Course conducted by the University of Moratuwa to receive further training at the NGJA laboratory with a view to introduce them as gemologists and entrepreneurs to the industry.

The Authority has also taken steps to upgrade the skills of the gem miners, organise skills development workshops, establish Gem Industry support service units, conduct environment protection programmes in gem mining areas and activate a legally enforceable process in Jewellery products.

Related Info:
Prince William's Royal Engagement Ring Boosts Sri Lankan Gem Trade

Jewels Sri Lanka 2010, Exhibition of Jewellery, Gem and Mineral in Colombo, 10 - 12 December

SL Gem Export Bring Rs45bn in 2009

17th January 2010, www.nation.lk

Gem, diamond and jewellery export earnings in 2009 amounted to a massive Rs. 45 billion exceeding the estimated target, according to National Gem and Jewellery Authority Chairman / Chief Executive Officer Hasitha Tillekeratne.

A number of steps were taken under ‘Mahinda Chintana’ ‘to develop the gem industry and discovering new markets helped prevent Sri Lanka’s gem industry from being adversely affected by the global recession resulting in the collapse of markets in Europe, Japan and the USA.

The new markets for Sri Lankan gems are in India, China, Russia, Turkey, Taiwan and Oman.

The national budgets for the past two years granted a number of dividends, thus ensuring the industry’s stability.

In addition to helping the business community, steps have been taken to raise the living standards of traditional gem prospectors, introduce them to new technology, minimise accidents and give maximum compensation to accident victims.

The highest record of gem land auctions were held last year to provide lands for mining while projects were launched to protect infertile state lands where gem deposits are yet to be identified.

Plans have been drawn up to search for gems from the river beds of Mahaweli, Kalu Ganga and other major rivers through environmentally-friendly techniques, says the NGJA Chairman who observed that the supreme court and the appeal court dismissed cases filed by some Non-Governmental Organisations (NGO) against the NGJA’s plans. He expressed regret that certain media organisations, which gave big publicity to NGO allegations, failed to report the court proceedings.

He assures that all steps have been taken to minimise environmental damage and the National Gem and Jewellery Authority had detected and foiled a number of instances of unauthorised gem mining.